Thursday, March 23, 2017
Governor Terry McAuliffe today vetoed six pieces of legislation that would undermine support for Virginia’s public education system.
House Bill 1400
Governor Terry McAuliffe vetoed House Bill 1400, which would create a new executive branch agency known as the Virginia Virtual School. This entity, governed by an independent policy board, would facilitate the provision of full-time, online education programs for students throughout Virginia.
This bill is virtually identical to HB 8 (2016). The Office of the Attorney General advised that HB 8 was unconstitutional; consequently, I vetoed it.
In establishing the Virginia Virtual School outside of the jurisdiction of the Board of Education, and
Saturday, August 15, 2009
Colonial Bank, Montgomery, Alabama, was closed today by the Alabama State Banking Department, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Branch Banking and Trust (BB&T), Winston-Salem, North Carolina, to assume all of the deposits of Colonial Bank.
Colonial Bank’s 346 branches in Alabama, Florida, Georgia, Nevada and Texas will reopen under normal business hours beginning tomorrow and operate as branches of BB&T. Depositors of Colonial Bank will automatically become depositors of BB&T. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use their existing branches until BB&T can fully integrate the deposit records of Colonial Bank.
This evening and over the weekend, depositors of Colonial Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.
“The past 18 months have been a very trying period in the financial services arena, but the FDIC and its staff have performed as Congress envisioned when it created the corporation more than 75 years ago,” said FDIC Chairman Sheila C. Bair. “Today, after protecting almost $300 billion in deposits since the current financial crisis began, the FDIC’s guarantee is as certain as ever. Our industry funded reserves have covered all losses to date. In fact, losses from today’s failures are lower than had been projected. I commend our staff for their excellent work in assuring once again a smooth transition for bank customers with these resolutions. The FDIC continues to stand by the nation’s insured deposits with the full faith and credit of the U.S. government. No depositor has ever lost a penny of their insured deposits.”
Posted By Valerie Garner
Categories: Business, Finance